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State makes available funding for all-electric affordable housing
State makes available funding for all-electric affordable housing
Two state agencies are making $7.5 million in funding available for a new clean energy initiative, designed to create up to 600 energy-efficient, all-electric affordable housing units.
The pilot program, a collaboration between New York State Homes and Community Renewal and the New York State Energy Research and Development Authority, will provide housing developers with streamlined access to technical assistance and affordable housing finance opportunities.
Launched as part of the Homes and Community Renewal’s (HCR) summer multifamily finance 9 percent and 4 percent request for proposals, the funding will directly support clean energy projects. Developers will have a one-stop process instead of the requirement to file a separate application for funding.
“This initiative is game-changing in terms of establishing a streamlined, direct funding source for developers who are proactively incorporating innovative solutions into their housing projects,” RuthAnne Visnauskas, commissioner of HCR, said in a news release. “The $7.5 million Clean Energy Initiative will create up to 600 state-of-the-art, all-electric homes in New York that will help shrink energy bills for residents and reduce the state’s carbon footprint.
“We look forward to seeing the success of this initiative and to our continued partnership with NYSERDA as we strive to create healthy, sustainable homes that benefit families and the environment, while also helping New York reach its climate goals.”
Visit the HCR website for more information.
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